International Finance
Egypt and the African Development Bank have signed a $170 million agreement for the second phase of the Private Sector Development and Economic Diversification Support Program. The deal aims to bolster the state budget and advance structural reforms, including a $400,000 grant to enhance environmental sustainability at the Abu Rawash Wastewater Treatment Plant. The signing was attended by key government officials.
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Egypt is set to receive €1 billion from the European Union this Thursday under the Macro-Financial Assistance mechanism, after implementing 16 economic and structural measures under the National Structural Reform Program. Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat announced this at a joint press conference with European Investment Bank Vice President Gelsomina Vigliotti.